Going by Adolph Wagner's theory, increased in public expenditure would have a significant influence growth. However, the endogenous growth theories posit that public sector either has direct or indirect impacts on economic growth. It is on this premise, we seek to examine and validate Wagner's ...
Following Keynes, public expenditure is seen as an exogenous factor to be used as a policy instrument to influence growth. On the other hand, Wagner argues that expenditure is an endogenous factor or an outcome, not a cause, of growth in national income. The purpose of this paper is to ...
1.An Empirical Study on the Validity of Wagner's Law in China Based on the Gibbs SamplingGibbs抽样条件下瓦格纳法则的中国有效性研究 英文短句/例句 1.Proportion of Public Expenditure to GDP has Reasonable Biggest Number: the Newest Explanation of “Wagner Principle”;公共支出规模存在合理极值:“瓦格纳...
However, arguments on the impact of public health expenditure on economic growth remain inconclusive. This study re-examined the connection between public health expenditure and economic growth in Nigeria within the context of Wagner's theory of ever-increasing State activities. The study found ...
U., (2012) "Relationship between public expenditure and national income: An empirical investigation of Wagner's law in case of Pakistan" Vol. 2, No.2, pp.533-538.Rauf A., Qayum A., Zaman K. (2012). Relationship between public expenditure and national income: An empirical investigation ...
growth and public spendingThis exploratory article describes the growth path of national government expenditure during the last eighty years. It covers the following topics: the long term relation between economic growth and public expenditure; budget policies executed in different macroeconomic contexts; ...
It is because of electoral democracy that various parties vie with each other to offer more and more social services with increasing state revenues. This paper combines the arguments from Political Science and Economics to argue that a European economic theory can perfectly apply in an Asian case....
Partly reprinted in Classics in the Theory of Public Finance, edited by R.A. Musgrave and A.T. Peacock (1958), Macmillan, London. 18]]>Time seriesNonlinearityThreshold Vector Error CorrectionPublic spendingEconomic growthWagner's LawThis paper uses historical data since mid-19th century to test...
By the BARS algorithm, we econometrically assess, for Italy, for the 1861–2008 years (divided in the two monarchic and republican periods and in seven subperiods)- the Wagner empirical law of growth of public expenditure G and the Wagner optimal public.
Keynesian theory, for example, indicates that given the existence of idle capacity and other resources, increased government expenditure will increase national income. Studies by authors such as Barro (1991) indicate that a large public sector can impede economic growth. Development theory extensively ...